Wie reagiert die Wirtschaft in Deutschland und Europa auf die Corona-Krise? – Diese Frage stand am 23. Oktober 2020 im Mittelpunkt der Veranstaltung.

Here you will find fact sheets concerning the payment services. 

Value Date: 29.10.2026 | Duration: 7 day(s) | Maturity date: 05.11.2026

“The budgets of the state governments and their local governments shaped up very well in the second year of the coronavirus pandemic,” the Bundesbank writes in its Monthly Report. According to the publication, they recorded an overall surplus of €5 billion in 2021. Despite the favourable state of their finances, state governments made use of emergency borrowing totalling €18 billion under their respective debt brakes. Based on the Bundesbank’s calculations, a large part of these funds was used to top up reserves. It appears that budgetary developments will be favourable this year, too. The Bundesbank sees no need for further emergency borrowing. The positive financial situation will allow state governments to play a part in tackling the energy crisis.

According to the Bundesbank's latest Monthly Report, the first double-digit inflation rate in 70 years and a high degree of uncertainty about energy supply and its costs are weighing significantly on the German economy. In the forthcoming final quarter of 2022 and first quarter of 2023, economic output could therefore fall considerably and Germany be on the brink of a recession. However, the extent of this decline is extremely uncertain, according to the report.